Former Fed Chairman Ben Bernanke Believes Bitcoin Unlikely to Succeed

[StockBet.com]

A bear joins Jamie Dimon:

https://cointelegraph.com/news/former-fed-chairman-ben-bernanke-believes-bitcoin-unlikely-to-succeed

[hatshepsut93]

Of course he says that, it's the same Ben Bernanke who was advocating and performing economic interventionism for all those years, and he's a huge fan of printing more money. So it's no wonder that he hates Bitcoin because it strips people like him from both the power to control economy and print more money. It is obvious that he would bash Bitcoin for it and use all sorts of arguments to discourage people from using it. One of those strategies is to tell that blockchain is valuable while Bitcoin is not while in fact it's the opposite - blockchain without decentralization and mining is just a distributed ledger with public key cryptography, which is not enough to solve problems of trust and security entirely.

[StockBet.com]

Bernanke wasn't worried about the housing bubble.

After it collapsed, he told Congress that the world was coming to an end.

[ajjhu]

I don't believe him. I only believe that bitcoin will get better and better.In fact, experts or politicians, financial tycoons' predictions, many of them are inaccurate, they just speak for their own benefit, so don't trust them.

[bitcoinvestor]

I don't believe him. I only believe that bitcoin will get better and better.In fact, experts or politicians, financial tycoons' predictions, many of them are inaccurate, they just speak for their own benefit, so don't trust them.

I agree with @ajjhu , don't believe him or why should I believe him. He and Jamie Dimon speak front the same point of view. They are the same and we are satoshis. We no need their aggreement to be succesful. Bitcoin is our properties. I will keep my bitcoin and sell at highest price if I want to. If not I will make my bitcoin grows. I don't really bother with the kind of people 's statement. with of Without him I will keep trading my bitcoin and hold it.

[tranle789]

I don't believe him. I only believe that bitcoin will get better and better.In fact, experts or politicians, financial tycoons' predictions, many of them are inaccurate, they just speak for their own benefit, so don't trust them.

I agree with you . They have a great influence on Bitcoin but they all want to buy Bitcoin at low prices and they always bring bad news about Bitcoin to manipulate this market. I think now Bitcoin is not affected by anyone because Bitcoin always has a community behind

[Stedsm]

Bernanke's words from the source:

Bitcoin is an attempt to replace fiat currency and evade regulation and government intervention.

Attempt? Who told you that, "Ben Uncle"?
It's not an attempt but an experiment. Satoshi didn't come and ask people to "literally" start giving value to his "experiment" or in basic words: INVENTION. People believed in it and so, they started evaluating this experiment to upgrade its nature to become a successful asset. There are physical things like Gold and Silver, just because they are being used since eras doesn't guarantee they will be a success in the future too. There's nothing that comes with a guarantee, Mr. Ben. You are wasting your time and ours by leaving statements that you think may turn out to be a "movement" in people's minds and make them do what you want.

I don’t think that’s going to be a success.

Okay. So you don't think it's going to be a success. Well, who cares? We don't give a FUCK.
For your knowledge, let me tell you that not just common people but celebrities, huge investors and even "GOVERNMENTS" are getting involved in this. Some countries are even preparing taxes as well as regulative frameworks for Bitcoins and few have already implemented some of this. And you just "think" this won't succeed?

[mk4]

Unlike most criticisms bitcoin receives, I'm actually fine with Bernanke's statement.

“Bitcoin is an attempt to replace fiat currency and evade regulation and government intervention. I don’t think that’s going to be a success.”

That's his opinion, and I'm fine with it. Unlike those statements saying "bitcoin is a bubble", or people comparing bitcoin with the tulip mania of the past, those stuff, which are obviously said by people who didn't do their research.

[enterprevic]

A bear joins Jamie Dimon:

https://cointelegraph.com/news/former-fed-chairman-ben-bernanke-believes-bitcoin-unlikely-to-succeed

I think all what these guys are saying is just to chase away the soft at heart who are not ready to wait for the risk or who are unwilling to bear the risk. If you're heeding to these kind of stuff you should remember that there is always risk with every form of investment, only those who bear the risk and take calculated steps/measures in order to make good returns from the undertaken risk.

its just like betting, most people would always tell you a team would lose a stake but if you're good with it and you stake your money, you can make profit off it.

[eternalgloom]

He's a former chairman of the Fed, seems pretty obvious that he doesn't believe in something that's actively competing against fiat currency.
Besides that, it's more of the usual stuff, against Bitcoin but talks very positively about blockchain technology.

Also notice how he's very much in favor of Ripple...

[Almat]

Unlike most criticisms bitcoin receives, I'm actually fine with Bernanke's statement.

“Bitcoin is an attempt to replace fiat currency and evade regulation and government intervention. I don’t think that’s going to be a success.”

That's his opinion, and I'm fine with it. Unlike those statements saying "bitcoin is a bubble", or people comparing bitcoin with the tulip mania of the past, those stuff, which are obviously said by people who didn't do their research.

I agree. He has a point, too. There are a lot of threads here saying Bitcoin can be used to get away with stuff, sidestep regulations, evade taxes, etc. It's going to fail from that perspective, because governments are already starting to get smarter with it.